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Delta Electronics profit misses consensus by 32.1% in Q2

Delta Electronics Inc. said its second-quarter normalized net income amounted to NT$1.22 per share, compared with the S&P Capital IQ consensus estimate of NT$1.80 per share.

EPS declined 15.3% year over year from NT$1.44.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$3.19 billion, a decrease of 15.5% from NT$3.77 billion in the prior-year period.

The normalized profit margin declined to 6.0% from 7.2% in the year-earlier period.

Total revenue grew year over year to NT$53.47 billion from NT$52.67 billion, and total operating expenses increased on an annual basis to NT$48.91 billion from NT$47.46 billion.

Reported net income fell from the prior-year period to NT$4.25 billion, or NT$1.63 per share, from NT$4.31 billion, or NT$1.65 per share.

As of July 28, US$1 was equivalent to NT$30.28.